The Realities of Money and Novel-Writing: Can it really pay the bills?

The bottom-line question is this: Can writing novels really pay the bills? 

Of course, for a big-time author, there's no question. But what about mid-list authors, or novelists published by small presses, and self-published authors?

I decided it was time to examine the financial realities. I was already aware that even with a traditional publisher, I couldn't expect huge amounts of money. 

Advances get spread over a year or more. Agents and the government take their cut. Authors are increasingly expected to shell out money for publicity. And most books don't earn back their advances, so expecting a fat royalty check is a pipe dream for most authors.

It's really helpful when authors share the realities with those of us still on the journey. Be aware that many authors are restricted from giving their exact advances, but here are a few posts that will give you an idea:

Ellery Adams details the nitty-gritty numbers in her publishing life.

Eric Wilson bares all about his income for ten novels.

Do you see a trend? These authors are not making a huge amount each year. What's the solution? Book sales. Being the author who actually receives royalties. And the way to encourage that is by writing the best book possible. Studying the craft of writing. Mastering marketing.

But what about self-publishing? Is it possible to earn more going the indie-route? J.A. Konrath certainly thinks so. And PassiveGuy shows how author Dean Wesley Smith plans to make $100,000 a year with only an hour a day of writing time. Very interesting.

Most of us long to be published because we want to touch readers. We want the validation that our words are meaningful. Money is nice, but it's not the biggest issue. We struggle with writing while keeping our jobs, and penning words around the rest of our lives. Because we have stories to tell.

Don't worry about me, I'll keep writing no matter what I make or don't make. I don't think I could stop. How about you?